De Beers provides blockchain update

May 10th, 2018

Anglo American’s De Beers said on Thursday it had tracked 100 high-value diamonds from miner to retailer using blockchain, in the first effort of its kind to clear the supply chain of imposters and conflict minerals, Reuters reported.

De Beers, the world’s biggest diamond producer by the value of its gems, has led industry efforts to verify the authenticity of diamonds and ensure they are not from conflict zones where gems may be used to finance violence, said the Reuters report.

“An immutable and secure digital trail was created for a selection of rough diamonds mined by De Beers as they moved from the mine to cutter and polisher, then through to a jeweler,” De Beers said in a statement, according to the Reuters report.